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90-minute live streaming program
  • August 8
  • 1:00 - 2:30 pm EST

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Best Practices in Handling Dormant Bank Accounts and the Escheatment Process

August 8

Learn the updated best practices for dealing with unclaimed property laws and due diligence requirements.

With increased state enforcement of unclaimed property laws, particularly in the banking industry, along with intensified media attention to consumer protection, and jurisdictional issues that have arisen between the states, the spotlight on unclaimed property is more intense than ever. Never before has it warranted the time and attention of executives in every organization as it does today. This topic will bring to light the current unclaimed property landscape in the banking industry and how the risk of noncompliance may be a risk not worth taking. We will also discuss best practices in creating an effective and robust due diligence and compliance program, where customer assets are protected and risk to the organization as a whole is minimized.

Learning Objectives

- You will be able to define unclaimed property.

- You will be able to discuss presumption of abandonment best practices.

- You will be able to identify the bank's obligations.

- You will be able to review the special issues related to the banking industry.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Unclaimed Property Defined
  • The Language of Unclaimed Property - Defining the Terms Commonly Used in the Industry
Property Types
  • A Discussion of Common Unclaimed Property Types in the Banking Industry and How They Can Be Considered Dormant or Inactive
Presumption of Abandonment
Determining Eligibility
  • When Does a Deposit Account, Uncashed Check or Certificate of Deposit Become Eligible to Be Reported to the State? What Can Preclude an Account From Being Reported as Unclaimed Property?
The Bank's Obligations
  • As Custodian of the Unclaimed Property, What Must the Bank Do to Protect the Owner's Funds While Complying With Unclaimed Property Laws?
Due Diligence
  • How to Have an Effective Due Diligence Program - What Is Required vs. What Is Effective
Reporting and Remitting to the States
  • Filing an Unclaimed Property Report and Remitting the Funds to the States Is Not a One Size Fits All Solution
Special Issues Related to the Banking Industry
  • Account Householding/Linking Is Discussed, Along With Legislation That Could Impact the Banking Industry
Best Practices
  • Tips and Tools for Creating an Effective Due Diligence and Unclaimed Property Annual Reporting Program - Eliminating Risk While Maintaining Positive Customer Contact
State Enforcement
  • The Current Audit Environment and State Efforts to Increase Compliance
What's on the Horizon?
  • What Does the Future Hold for Banks and Unclaimed Property Enforcement? Taking a Look Into the Crystal Ball
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on February 21, 2018.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Live Webinar Registration

  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, Inc. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CO CLE 2.0
     
  • This program may qualify for 2.0 credit hours through the Colorado Supreme Court Board of Continuing Legal and Judicial Education through reciprocity. This course is accredited in other jurisdictions such as New Jersey. To receive CLE credit for this program, a home study affidavit must be submitted to the Supreme Court Board of Continuing Legal and Judicial Education.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • GA CLE 1.5
     
  • This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.5 CLE hours.
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • MS CLE 1.5
     
  • This program has been approved by the Mississippi Commission on Continuing Legal Education for a maximum of 1.5 credit hours.
     
  • MT CLE 1.5
     
  • This program has been approved by the Montana Commission of Continuing Legal Education for a total of 1.5 CLE credits.
     
  • NH MCLE 1.5
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 90 Minutes.
     
  • NJ CLE 1.8
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.8 hours of total CLE credit.
     
  • NV CLE 1.5
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • TN CLE 1.5
     
  • This program has been approved as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.5 hours of credit.
     
  • VT CLE 1.5
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of CLE credit.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of Law & Legal Procedure credit.
     
  • WI CLE 1.5
     
  • This program has been approved by the Board of Bar Examiners for 1.5 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     
  • CPE 1.8 including Specialized Knowledge 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 1.8 hours. Prerequisite: basic knowledge of the banking industry. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Specialized Knowledge and Applications for 1.5 hours.
     

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Who should attend?

This live webinar is designed for presidents, vice presidents, branch managers, risk management, internal auditors, deposit operations staff, loan officers, compliance officers, loan department personnel, accountants, controllers, CFOs, credit and collection managers, and attorneys.

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Can't Attend?

More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Maureen Ferrari Grollman

Maureen Ferrari Grollman

Unclaimed Property Advocates, LLC

  • Managing Partner at UP Advocates (Unclaimed Property Advocates, LLC)
  • Leads the UP Advocates annual reporting and advisory services initiatives, tailoring clients’ policies and procedures to specific compliance needs, offering risk assessments to evaluate potential unclaimed property liabilities, or providing a fully outsourced annual reporting solution
  • Joined UP Advocates from a leading national consulting firm where she was managing director of Unclaimed Property Reporting, and previously VP-Operations; in these roles she managed a 20 person staff servicing more than 350 reporting clients; clients served came from industries including manufacturing, financial institutions, life insurance, utilities, oil and gas, transfer agents, broker dealers and mutual funds
  • Started her unclaimed property career at the Pennsylvania Treasury, Bureau of Unclaimed Property, where among other duties she managed the State’s voluntary disclosure program (VDA), counseling and assisting companies with Pennsylvania’s statutory compliance obligations
  • Member of the Unclaimed Property Professionals Organization (UPPO)
  • Frequently speaks at national conferences on the topic of unclaimed property compliance
  • Post-Baccalaureate diploma in marketing communications and B.A. degree, political science, Elizabethtown College
William (B.J.) Hanson

William (B.J.) Hanson

Dunbar

  • Executive director at Dunbar
  • A seasoned Unclaimed Property Professional with more than eight years of experience in the industry
  • Prior to joining Dunbar, he worked as senior vice president at Keane
  • At Keane, he was responsible for client satisfaction, sustainment, and growth within the Banking, Brokerage, Mutual Fund, and Insurance industries
  • Prior to Keane, he worked at DST Output for ten years on the Client Services team
  • Excels in leading strategic growth initiatives and developing long lasting partnerships with his clients
Purchase Options
Can't Attend?

More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 403881
Published 2018
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